The State is A Judge and Not A Player in The Social Market Economy

The State is A Judge and Not A Player in The Social Market Economy

The economist, Hussain al-Amash, the former chairman of the Commission for Combating unemployment in Syria, has said that the social market economy is but market economy which is well-known worldwide, adding that the difference is on the role of the state , which is the judge for all and not a player within a team. He further added that adding the word "social" to the market economy is not necessary, and it will not change the nature of market economy, because the leading role of the state will remain the same, and may be stronger than before. With regard to the economist domain, Al-Amash said that the new supervising role of the state necessitates protecting the society and its strata in a way that would achieve the social justice, and through highly qualified economic way even if it was a complete free economy. The frequently used definition of the social market economy in Syria was subject to a continuous change of thinking and vision which resulted in a confusion because of the gap between conviction and the economic science , on the one hand, and the distorted promoting of it as a social market economy. This was said by Mr. Amash during the 21st Tuesday’s economic session.

Recommendations of the First Islamic Conference on The Human Organizations

The activities of the 11st Islamic Conference are due to start today in Senegal under the title:" Islam in The 21st Century. Earlier, the first conference of the Islamic Conference Organization was held between 8-9 of this month in Senegal too with the participation of most humanitarian institutions andorganizations working in the Islamic civil work sector.

Lebanon Asks A Deposit by $ 4 billion from Saudi Arabia

Al-Sharq al-Awsat newspaper has quoted the Lebanese Minister of Finance, Jihad Azour as saying that the Lebanese government has asked Saudi Arabia to put a deposit estimated at $ 4 billion in the Lebanese Central Bank to increase the country’s reserves of the foreign currencies. Earlier, Azour told Reuters that" we have positive indicators that the Saudis will provide us the financial help we need with regard to the deposit, adding that not time has been set". He abstained from mentioning the figure, but said that this will send a positive signal to the market.

The International Travel And Tourism To be Held In Dubai

Dubai is due to host the International Travel and Tourism Summit to be held between 20-22 on April. Taking part in the summit leaders and decision-makers from all over the world working in travel and tourism field. The Emarati al-Bayan newspaper pointed out that the summit will offer a complete and integrated agenda for evaluating the different impacts of this sector on the whole world, and discussing the means available for travel and tourism sector to be able to shoulder responsibility and to address with the needs of the international community.

Small Indexes

– The Real estate expert, Hamad al-Suidan, chairman of the administrative board of the real estate company " Maouten" has revealed that the real estate sector in the Kingdom is in need of $290 billion a year during the coming 20 years.
– The Israeli Infra-Structure Ministry has denied what Al-Jazeera channel’s correspondent in Cairo has said that the Egyptian authorities have suspended exporting gas to Israel with the aim of using this as a card to exercise political pressure to stop the Israeli military operations on Gaza Strip.

Companies Indexes

– The Gulf Investment House has announced that it achieved net profits estimated at 14,6 million Dinar for the fiscal year which ended on the 31st of September, adding that the total revenues for 2008 have reached 20,8 million dinar.
– The German Lufthansa Airline Company has expected its profits and revenues to increase this year, following the increase of the net profits of the group last year by more than the double due to the prosperity witnessed by aviation sector.

Bids

– The Islamic Republic News Agency Irna has said that a Chinese company signed an agreement for holding an aluminum factory with a total production capacity estimated at 120,000 tons annually northeast of Iran

Exhibitions & Conferences

Dubai International Financial Center, the most quick financial center in terms of development, and Dubai International Trade Center, the leading centre in organizing exhibitions in the region have announced the official launching the first international conference and exhibition in the Middle East for banks, technologies, and financial services(MIFX).